Energy Transaction Modeling and Simulation in Smart Grids

In this paper, we proposed and simulated an energy transaction model adequate to manage interaction between a smart grid nodes using decentralized transactions. In the proposed transaction model, energy producers and consumers can interact directly. In fact, the proposed algorithm used the Byzantine Fault Tolerance (BFT) consensus mechanism for validating these transactions. Each transaction is structured to include essential elements and information that ensure the transparency and security of the operation. This includes data related to the sender and recipient nodes, as well as the timestamp, along with all necessary information to ensure optimal traceability and verification. After validation by the network nodes, a cryptographic hash was generated and included into the registered digital transaction in order to ensure the integrity and immutability of the transaction data. The proposed energy transaction model provides a robust foundation for integrating the Blockchain technology into smart grids.